16 Glover St #3SalemMA01970
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Salem at 16 Glover St #3, Salem, MA, 01970 listed at $419,000 pairs $3,109/mo rent with a $2,051/mo payment to leave $468/mo cash flow. Total monthly income runs $3,109/mo, and annual cash flow reaches $5,615/yr on $138,899 cash to close. Return on cash invested measures 23.95% in year one, and rental yield registers 8.9% at a $419,000 basis. Equity gained on principal adds $2,704/yr, and annual property appreciation at 5% supports $115,762 by year five. Five-year ROI tracks 124.66% and total cumulative return in cash totals $173,153. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,109/mo property income relative to a $2,051/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Condo
Built in 1915
5,802 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01970, Salem, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 20,846 (100%) |
| Owner Occupied HU | 10,263 (49.2%) |
| Renter Occupied HU | 9,561 (45.9%) |
| Vacant Housing Units | 1,022 ( 4.9%) |
| Median Home Value | $626,422 |
| Average Home Value | $665,116 |
Housing Distribution
Address Breakdown
Residential
18,571
Single Family
12,690
Multi-Family
5,881
Businesses
1,702
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Listed by: Christina Frost • Portside Real Estate Group
Mls Name: MLS PIN
Mls ID: #73407615